Common use of Registration of Transfer and Exchange of Ownership Interest Clause in Contracts

Registration of Transfer and Exchange of Ownership Interest. The Owner Trustee hereby appoints Bank One, National Association as Registrar under this Agreement. The Registrar shall keep or cause to be kept, at the office or agency maintained pursuant to Section 3.8, a Register in which, subject to such reasonable regulations as it may prescribe, the Register shall provide for the registration of the Ownership Interest and of transfer and exchange of the Ownership Interest as herein provided. The Registrar, subject to Section 3.13 hereof, on behalf of the Trust shall note on the Register the transfer of the Ownership Interest.